AIRO Group (NASDAQ:AIRO) Lowered to “Sell” Rating by Wall Street Zen

Wall Street Zen downgraded shares of AIRO Group (NASDAQ:AIRO) from a hold rating to a sell rating in a research note published on Saturday morning.

AIRO has been the subject of several other reports. Mizuho dropped their price target on AIRO Group from $31.00 to $25.00 and set an “outperform” rating for the company in a report on Monday, November 17th. Cantor Fitzgerald dropped their target price on AIRO Group from $35.00 to $20.00 and set an “overweight” rating for the company in a report on Friday. Finally, Weiss Ratings restated a “sell (e-)” rating on shares of AIRO Group in a research note on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $23.67.

AIRO Group Stock Up 1.7%

Shares of AIRO stock opened at $7.99 on Friday. AIRO Group has a 52 week low of $7.54 and a 52 week high of $39.07. The business’s 50-day moving average is $16.71.

AIRO Group (NASDAQ:AIRO) last released its quarterly earnings results on Friday, November 14th. The company reported ($0.28) earnings per share for the quarter. The business had revenue of $6.28 million for the quarter.

Insider Buying and Selling

In other news, Chairman Chirinjeev Kathuria sold 405,634 shares of the stock in a transaction on Friday, September 12th. The stock was sold at an average price of $17.39, for a total transaction of $7,053,975.26. Following the sale, the chairman directly owned 3,650,710 shares of the company’s stock, valued at approximately $63,485,846.90. This represents a 10.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder New Generation Aerospace, Llc sold 405,634 shares of the firm’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $17.39, for a total value of $7,053,975.26. Following the completion of the transaction, the insider owned 3,650,710 shares in the company, valued at $63,485,846.90. The trade was a 10.00% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 1,097,026 shares of company stock valued at $19,077,282.

Hedge Funds Weigh In On AIRO Group

Hedge funds have recently bought and sold shares of the company. Strs Ohio bought a new stake in shares of AIRO Group during the 3rd quarter worth approximately $25,000. Raymond James Financial Inc. acquired a new position in AIRO Group during the second quarter valued at approximately $43,000. JPMorgan Chase & Co. bought a new stake in AIRO Group during the third quarter worth $54,000. Bank of America Corp DE acquired a new stake in shares of AIRO Group in the 2nd quarter valued at $60,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of AIRO Group in the 3rd quarter valued at $62,000.

About AIRO Group

We are a technologically differentiated aerospace, autonomy, and air mobility platform targeting 21st century aerospace and defense opportunities. We leverage decades of industry expertise and connections across the drone, aviation, and avionics markets to provide leading solutions to the aerospace and defense market.